Gold prices rise slightly

Gold prices rose slightly on December 6 morning to $1,785 per troy ounce reported from the auction data.

On December 5, the price of the precious metal fell by 1.7% amid the strengthening of the dollar.

The February gold futures price on the New York Comex rose $2.3, or 0.13%, to $1,783.6 a troy ounce. A day earlier, gold fell 1.7%. March silver futures rose 0.44% to $22.515 an ounce.

The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose 0.8% a day earlier, to about 105.3 points. A stronger dollar makes gold less available to buy in another currency.

The next two-day meeting of the US Federal Reserve System (FRS) will take place next week. The regulator will announce its decision on the key rate, as well as update macroeconomic forecasts, then Central Bank Chairman Jerome Powell will speak at a press conference.

Markets feared that after the publication of strong statistics on unemployment in the US last week, the regulator may be more hawkish, which supported the dollar and had a negative impact on gold.

www.anews.az